According to the Zhitong Finance App, Jingfu Group (00280) announced interim results for the six months ended September 30, 2023, with revenue of HK$364 million, a year-on-year decrease of 11.78%; profit attributable to company owners of HK$43.735 million, up 13.23% year-on-year; profit per share of HK4.8 cents; and proposed interim dividend of HK0.4 cents per share.
According to the announcement, the decline in the group's total revenue was mainly due to weak demand for gold bars and loss of revenue due to the closure of Audemars Piguet stores. Despite falling revenue, however, the company managed to increase the overall profit attributable to company owners. This is due to a decrease in distribution and sales costs of HK$10.3 million, a decrease of 16.8% over the same period last year, and capital interest income of HK$7.4 million, a significant increase of 236.4% over the same period last year.